Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Public Real Estate Auction
Purpose: To sell City-owned real estate property not needed for public use
Date of Auction: March 30, 2017
Location of Auction: Newark Symphony Hall, 1020 Broad Street, Newark, New Jersey 07102
Cost Basis: ( ) PSF ( ) Negotiated ( ) N/A (X) Other:
Contract Basis: (X ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
( ) Private Sale ( ) Grant ( ) Sub-recipient ( X ) n/a
List of Property: Refer to Resolution, Exhibit A
Additional Information:
Thirty-One (31) properties to be considered for auction
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WHEREAS, N.J.S.A. 40A:12-13(a) provides that a municipality may sell any real property with or without capital improvements, not needed for public use, by open public sale at auction to the highest bidder after advertisement thereof in a newspaper circulated in the municipality in which the lands are situated, by two insertions at least once a week during two consecutive weeks, the last publication to be not earlier than seven days prior to such sale; and
WHEREAS, N.J.S.A. 40A:12-13(a) further provides that the Municipal Council may fix a minimum bid and may reserve its right to reject any and all bids with the reservation of the right to reject all bids where the highest bid is not accepted. Notice of such reservation to reject any and all bids shall be included in the advertisement of the sale and public notice thereof shall be given at the time of the sale; and
WHEREAS, N.J.S.A. 40A:12-13(a) also provides that the Municipal Council may impose restrictions on the use to be made of such real property and any conditions of sale as to buildings or structures, or as to type, size, or other specifications of bui...
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